The Great Timing Debate: Should I Claim Social Security Early or Late?

(StatePoint) Retirees become eligible to claim Social Security benefits at age 62, but the timing of when you claim can drastically impact your benefit amount. Still, when to claim will be entirely dependent on your unique situation. As you approach retirement, it’s important to understand the impact that timing has on your benefits.

“The timing of when you elect to receive your Social Security benefits warrants thoughtful consideration,” said Rich Guerrini, head of PNC Wealth Management. “This decision can significantly influence not only the total benefits you receive, but also the trajectory of your investment income, your tax obligations, and even your healthcare premiums.”